Valentine's Day spending
Learn more about Valentine's Day shopping in 2024.
Sparks are flying this Valentine’s Day as consumers get ready to show their loved ones how much they care. Overall, consumers plan to spend $25.8 billion on Valentine’s Day this year — an average of $185.81 per person, according to the annual survey by NRF and Prosper Insights & Analytics.
As part of this, they’re expecting to spend record amounts on significant others and reach new highs in romantic gift categories. Read on to learn more about how consumers are celebrating their love stories this year.
Romance is in the air
After consumers splurged last year to celebrate other relationships in their lives like friends, co-workers, classmates and teachers, and pets, spending on these groups is returning to normal levels as consumers look for ways to celebrate the romantic relationships in their lives this year. NRF’s data shows that consumers are planning to spend a new high of $14.2 billion on their significant others or spouses this year, or a record $101.84 per person.
While consumers overall are prioritizing gifts for partners and spouses this year, they are not neglecting the other special relationships in their lives. For example, although consumers ages 35-44 are spending the most on their romantic partners, they are also the age group planning to splurge the most on gifts for pets.
Finding the perfect gift to say “I love you”
No matter who you’re shopping for — whether you’re following the trend and splurging on your significant other, showing love to your friends, pets and coworkers, or celebrating “Galentine’s Day” with your friends — there’s something for everyone. While candy and greeting cards remain the most popular Valentine’s gifts, consumers are also setting records on spending for jewelry, flowers, clothing and an evening out this year as they celebrate the romantic relationships in their lives.
Some consumers are also thinking outside the box when it comes to gifts this year. Data on sales from Shopify merchants in January shows shoppers are focusing on more unique items.
“Classic gifts like candles, jewelry, pajamas and perfume are certainly popular,” Shopify President Harley Finkelstein says. “But we’re also seeing shoppers opt for non-traditional gifts focused on experiences, like recreating your favorite co*cktail at home with a new barware set, planning for an upcoming adventure with travel accessories, or elevating couples’ game night with table shuffleboard.”
Even if you’re somewhere in between friends and romantic partners, retailers have a gift for that too. This year, Shopify merchant Sweethearts released “Sweethearts Situationships” candy as the perfect gift for your special (albeit emotionally unavailable) someone.
Showing love in non-traditional ways
Even those not celebrating the holiday find ways to make the day special. According to NRF’s survey, about a third of those not planning to celebrate Valentine’s Day still find ways to mark the occasion.
These trends are particularly popular among younger consumers. Over half (53%) of 18- to 34-year-olds and 42% of 25- to 34-year-olds not celebrating Valentine’s Day still find a way to mark the occasion. Many elect to treat themselves to something special or plan a get-together or evening out with other single friends or family members.
For those marking the occasion by treating themselves or throwing a party with single friends, Walmart, Macy’s and Kay Jewelers have you covered with “Galentine’s Day” gift guides.
For more insights into how consumers are sharing the love, check out NRF’s Valentine’s Day headquarters.
